Greetings Jiricepelka.scrt,
I wanted to follow up on this post because it deserves a good response - personally, I would have loved to follow up on this sooner but amidst the noise of launch I was unable to carve out the time to properly respond.
First thing I would like to start with is the LTVs on volatile assets (such as stkd-SCRT) why are the LTVs so low? Simply put, the more aggressive the LTV the deeper the available liquidity needs to be to ensure that as collateral gets liquidated SILK is still able to maintain its promise of overcollateralization. The lower the allowable LTV, the more collateral is backing SILK on said vault which buys time for liquidations to occur on said asset that has more volatility and less liquidity. Acceptable minimal LTVs are based on 2 standard deviations worth of price volatility on assets. As assets show less volatility, LTVs can be expanded within the risk framework. @ChristianA is a great resource if you want to learn more about the risk framework used by ShadeLend.
A good example of an excellent risk framework which explains a lot of this logic is one used by Mars Protocol:
Now, onto SILK boostrapping. Currently, there is ~$3.8M worth of value backing SILK in overcollateralized vaults. ~41% of this $3.8M is from USDT + USDC.
Please note that in SILK - Stablecoin Trillema & Operation Touch-&-Go (Security, Efficiency, Stability) the target is 40% collateralization from stables for SILK in year 1 to improve adoption. As such, we are actually quite close to hitting this target 40% target. When you made this post initially, we were only 24 hours into the initial launch of SILK. Now that things have settled, we are in a much better place with decentralization.
However, Y2 of operation Touch & Go pushes towards SILK only being 30% backed by centralized stablecoins. As such, we are looking to rapidly onboard other decentralized assets (stay tuned for this) as we continue to expand the offerings on ShadeLend.
We appreciate your input and concerns about SILK decentralization - my only feedback would be that SILK needed a little bit of time to settle and the story has only just begun.
-Carter W.